News / GXO Logistics upgrades guidance as spin-off proves a success

The world’s largest pure-play contract logistics operator, GXO Logistics, has released its first results since its spin-off from XPO Logistics and upgraded its full-year guidance on the back of recent contract wins.

It posted third-quarter revenues of $2bn, which it said was up 24.6% year on year, and adjusted ebitda of $163m, compared to a pro forma adjusted ebitda of $142m the year before.

Malcolm Wilson, CEO of GXO, said: “We executed extremely well in the third quarter.

“We reported strong net income ...